Home for all Chart Traders: This site will teach you how to trade Chart Patterns, via articles about trading, Money Management, Patterns, and more!

Monday Analysis May 6th, 2013

An Ascending Triangle \ Flag has appeared in the NZD\JPY in the 15-minutes chart. It signals that a breakout upwards is likely and a continuation of the bullish trend is expected. We will enter LONG on the pullback.

The Gold is now in a channel, we will take LONG trades on the support level and LONG trades when price breaks upwards and pulls back to the Resistance level from above.

+36 Profit Points on the Live Trade

Closed the trade after 47 minutes, with +36 profit points in the live trading account. Not a bad way to open the trading day ;-)

I hope you took this trade as well and profited from it.

Michael

Live Trade on Germany Index - Long

The GERMAN CAC-30 Index has just touched the lower support line of a big ascending channel, so I just entered a long trade with tight stop loss and take profit at the opposite trend line.

Good luck!

29th April 2013: 3 Chart Patterns

Few interesting patterns today:
First of all, we can see a horizontal channel at the EUR/SEK. I will trade only downwards: so if price breaks the support level and pulls back we will enter a short trade. Target is about 240 pips.

Syndicate content